Fortitude Family Office LLC Boosts Holdings in Alphabet Inc. $GOOGL

Fortitude Family Office LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 19.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 10,576 shares of the information services provider’s stock after purchasing an additional 1,714 shares during the quarter. Fortitude Family Office LLC’s holdings in Alphabet were worth $1,864,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Bfsg LLC raised its position in shares of Alphabet by 0.6% during the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock valued at $1,838,000 after buying an additional 59 shares in the last quarter. Enzi Wealth raised its position in shares of Alphabet by 2.5% during the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock valued at $408,000 after buying an additional 62 shares in the last quarter. Park Capital Management LLC WI raised its position in shares of Alphabet by 1.1% during the 2nd quarter. Park Capital Management LLC WI now owns 6,005 shares of the information services provider’s stock valued at $1,058,000 after buying an additional 65 shares in the last quarter. Wolff Financial Management LLC raised its position in shares of Alphabet by 2.6% during the 2nd quarter. Wolff Financial Management LLC now owns 2,632 shares of the information services provider’s stock valued at $464,000 after buying an additional 66 shares in the last quarter. Finally, Whipplewood Advisors LLC raised its position in shares of Alphabet by 1.2% during the 1st quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider’s stock valued at $817,000 after buying an additional 67 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. BNP Paribas Exane restated a “neutral” rating and set a $172.00 price objective on shares of Alphabet in a research report on Friday, June 27th. Wells Fargo & Company raised their price objective on shares of Alphabet from $184.00 to $187.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 29th. Rosenblatt Securities raised their price objective on shares of Alphabet from $191.00 to $224.00 and gave the company a “neutral” rating in a research report on Wednesday, September 3rd. Barclays increased their target price on shares of Alphabet from $235.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, September 3rd. Finally, Wall Street Zen lowered shares of Alphabet from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. Three investment analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $232.90.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the sale, the chief accounting officer owned 17,293 shares of the company’s stock, valued at $4,236,785. This trade represents a 13.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the completion of the sale, the chief executive officer directly owned 2,397,392 shares in the company, valued at approximately $598,149,304. This trade represents a 1.34% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 258,088 shares of company stock worth $52,405,304. 11.64% of the stock is currently owned by insiders.

Alphabet Price Performance

Shares of Alphabet stock opened at $245.79 on Friday. The firm has a market cap of $2.97 trillion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 1.67 and a beta of 1.01. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $256.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company’s fifty day simple moving average is $214.70 and its two-hundred day simple moving average is $182.46.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. As a group, equities analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is 8.95%.

Alphabet Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.